At NRF Big Show 2018, retail executives and leaders share the areas they will be focusing on this year. Here are some things they are working on:
1. Retailers will continue to strive to offer more personalized digital experiences.
When asked for their input, executives from Macy’s, Neiman Marcus Group, and The Children’s Place were clear that personalization would be a big focus for them in 2018. Retailers have worked to improve personalization for many years, but it all boils down to the customer experience. As such, delivering great customer experiences in 2018 will be the result of combining technology with a more personalized touch.
2. Connecting the online and offline store experiences will continue to be a primary focus.
Leading retailers like Macy’s and The Children’s Place remain fervent about ‘omnichannel retailing.’ Macy’s continues to experience tremendous growth in the buy online, pick up in store (BOPIS) space. The Macy’s executive stated that “physical stores are not going away. Customers will always want the option of walking into the store to try on jeans instead of buying three different sizes online.”
3. More retailers will look to take advantage of voice assistants.
Samsonite’s global e-commerce director thinks voice assistants will start to take off in certain categories, like consumables. However, categories like fashion may have a harder time harnessing voice. 1-800-Flowers.com was one of the first retailers to launch an Alexa skill, the CEO and President believes the bots and AI capabilities will allow 1-800-Flowers.com to amplify its personalized experience. See the possibilities: “With the introduction of voice as the primary interface, I think it will take us back to the retail experience of our first florist, where we provide a true 1-to-1 relationship. Voice allows us to have a 1-to- 1″. one-to-one relationship with customers on a large scale.
4. As artificial intelligence (AI) matures, AI-powered retail applications are gaining adoption.
According to Samsonite’s global director of e-commerce, 2018 will be the year that artificial intelligence will have its defining moment. Retailers will begin to use it to power various parts of the retail and e-commerce experience. 1-800-Flowers.com uses AI to power conversational interfaces like Alexa, Google Assistant and Facebook Messenger, many of which don’t require any human contact.
5. Amazon personalization, social media, and marketing services will be used as acquisition marketing strategies.
The Children’s Place highlighted the importance of personalized marketing strategies. Its personalization strategy began in 2017 when the company hired a data scientist to cleanse its customer database. Now that The Children’s Place can connect customer purchases online and in-store, the executive believes he will help make acquisition, engagement and retention strategies more personal.
Social media also appears to be a top marketing priority for Petco’s CEO. On the other hand, Samsonite’s global director of e-commerce believes that “Amazon marketing will become as central to a brand’s marketing strategy as Google and Facebook. Today, Amazon has the potential for ROI from search Google pay in 2005 and display ads in 2002.”